China Gold International Resources Corp. Ltd. (TSX: CGG) (HKEx: 2099) is pleased to provide preliminary full year production results for 2019 and announce annual production guidance for 2020.
2019 Production Highlights – Gold:
2019 Production Highlights – Copper:
Guidance Highlights for 2020:
CSH Mine – Operation update
The Company plans to continue its study on development plans outside the current pit limits. Jiama Mine – Operation update The Company improved metallurgical recovery of copper at the Jiama Mine, growing 2019 copper production beyond the original production guidance through improvements in efficiency that resulted in significant gains in its financial performance despite challenging copper prices. The Company is considering the possibility of partnering up with a telecom service provider to upgrade Jiama Mine to become an intelligent mine by utilizing 5G technology.
The Company’s CEO, Mr. Liangyou Jiang, said, “I am very pleased with the performance of our Company and our team. 2020 marks a new decade for China Gold International Resources. Having grown our business operations from 111,000 ounces to 212,870 ounces of gold and 21.6 million pounds to 137 million pounds of copper in 9 years, I credit our proven technical team for all of their achievements.
With our strong financial position and ability to access capital, thanks to our large stakeholders, the Company finds itself well positioned to continue building a profitable, growth oriented, sustainable metal producer able to capitalize on the coming gold era. We appreciate all our investors and stakeholders for their ongoing support. In 2020, the Company is committed to continuing its growth through the development of its existing projects, exploration and the pursuit of additional accretive acquisitions.” Final Year-End 2020 Results The Company expects to report its detailed 2019 year-end financial statements by the end of March 2020. In connection with the release, management will hold its annual roadshow event to discuss the Company’s year-end results and performance.
About China Gold International Resources
China Gold International Resources Corp. Ltd. is based in Vancouver, BC, Canada and operates both profitable and growing mines, the CSH Gold Mine in Inner Mongolia, and the Jiama Copper-Polymetallic Mine in Tibet Autonomous Region of the People’s Republic of China. The Company’s objective is to continue to build shareholder value by growing production at its current mining operations, expanding its resource base, and aggressively acquiring and developing new projects internationally. The Company is listed on the Toronto Stock Exchange and the Main Board of The Stock Exchange of Hong Kong Limited.
Silver Mountain Resources Inc. (TSX-V: AGMR) (OTCQB: AGMRF) is ... READ MORE
Mandalay Resources Corporation (TSX: MND) (OTCQB: MNDJF) announce... READ MORE
Collective Mining Ltd. (TSX: CNL) (OTCQX: CNLMF) (FSE: GG1) is pl... READ MORE
Significant copper and molybdenum intersections include: HM19: 11... READ MORE
Red Pine Exploration Inc. (TSX-V: RPX) (OTCQB: RDEXF) is pleased ... READ MORE